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Regulation2026-08-20

Australia's prudential regulator APRA published its 2026-27 Corporate Plan on 20 August, setting supervisory priorities through 2029-30. Insurers, banks and superannuation trustees that use AI systems will be expected to show stronger governance, risk management and board oversight, alongside targeted operational and technology risk reviews and continued checks on the CPS 230 operational risk standard. APRA said new requirements will be offset by removing duplicative reporting so overall regulatory burden stays broadly flat.

What changed

AI use by insurers was not a named focus of APRA's supervisory agenda.

  • $278 million APRA budget for 2026-27
  • headcount 907 to 900
  • ~$6 million annual industry saving

What you need to act on it

  • regulated by APRA in Australia

Sources

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